The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-11-17
VEXED RAILROAD FIGHT.
ANOTHER BLOW AT THE NJ. & G.
MINORITY STOCKHOLDERS.
The East Tennessee, Virginia q Geor-
gia Company Wants a Voices the
Annual Meeting To-day, or No Meet
ing Injunction Granted.

Differences between the East Tennessee,
Virginia & Georgia railroad company and
HE stockholders Of the Memphis a
Charleston railroad still occupy the courts
in this part Of the country A bill was
6lcd by the former in the chanccry court
yesterday PRAYING for an injunction nc
ttraining the latter from transaCting any
business whatsoever at the meeting OF
stockholders advertised 20 be held in this
eity today, and more especially the cleo
ton Of directors, or, il an adjourned
meeting at any place. until il shall be de-
termined whether or not the petiiioning
corporation is the lawful owner OF ma
iorhy OF stock in the Memphis q Charles
lon, which il claims 10 bc, and IL It's
ownership Is held valid IL be- given the
right 10 participate in the meetings and
vote said stock. Messrs. lloadly lautcr-
bach 4 johnson and VIM. NJ. Baxter are
solicitors Tor complainants.
The plaintiffs set forth that they acquired
los 2Gi shares Of the Memphis 4 Charles
ton railroad, through DEGREES from the cir
ruit court of the United States Tor the
Eastern distric, Of Tennessee, in proceed
lngs wherein the mayor aud aldermen Ut
Knoxville were plaintiffs, aud the Knox
vile d Ohio railroad company ct al. wcrc
defendants. Subsequent TO the acquire
mcnt of this stock plaintiffs became insol-
vent, and unable 10 pay the interest due
upon It's mortgage debt, and foreclosure
proceedings were begun against IL in the
ZANE court which rendered the first de.
.r..a l.attl.. aVWtttuVts Ifllg N1.I Ia l..
circuit court for the proper districts In the
Statcsoi Georgia, Alabama and Mississippi.
As result OF these proceedings, the entire
property aud franchises OF the East Ten
nessec, Virginia 4 Georgia road, including
the shares Acquired ia the capital stock of
the Memphis 4 Charleston. were pur.
chased at public sale 10y +. 7. Olcott aud
Others, who thereby became the exclusive
owners. The purchasers organized. in
strict accordance with the laws Of Tonnes
zee a corporation under the name and
title Of the East Tennessee, Virginia 4
Georgia railroad company, and conveyed |
20 i all their holdings which they had |
well defined right 10 do, and up 10 the |
filing 81 this bill no one has ever questioned |
the title claimed.
The capital stock Of the Memphis &
Charleston road is divided into 2l2, 800
shares, OF the par value Of S2j. In accord
ancc with the charter Of this road, It's reg |
ular annual meeting Of stockholders, for |
the election Of directors and for such other |
business n may be- brought before II, il to |
h. held in Memphis on the 18th OF No |
vcmbcr. The fourth section Of the set i'm
cooperating the Memphis d Charleston
road provides that the company shall, at
the first meeting Of the stockholders, dcs.
ignaic time when, aud place or places in
north Alabama where, for the conycn.
ienoc 81 the citizens OF the state who may |
be stockholders, the subsequent elections |
Tor directors shall be held, and notice |
given thereof in one or moro newspapers
published IN north Alabama, and said
elections shall bc held ut the same time,
both IN this state and In Tennessee: that.
In accordance with this provision oi the
charter, polls will also be- open ior the ~.
ccpuon OF votes for tho election Of III.
fcClOn', for the convenience of the citizens
OF the State oi Alabama who are stock.
holders in said Memphis & Charleston
railroad company. NJ The city of Hunts
willie. The right oi the East Tennessee.
Virginia & Georgia 60 vote its stock in an
nual ani other meetings has never before
been questioned, bnt now il IL.
The petition cites that William Henry
Woods, Lcopuld sicguuud and Abraham
lhc,lcnhcuy, who own in the aggregate
about tUu -hurv ul MCmphi, * Charles.
ton stock, have combined, conicdcmicd
and cuusprcd with divers and sundry
Other Stockholders names unknown. and
Who, ~ TIE Hegr gate, own q bare major
y! ~ the minority of said stock n major.
ny Of % being hHii.Is heretofore shown. by
ptuupn'f Co deprive petitioner i h. right
ioNoir upun %. -'uJk, or cause the same "a
IL either represented or voted upon ~ said
mccIing ur amy adjournment thereof. or
IN amy Wise participate in the proceed
ING The result 1T this conspiracy. the
bill alleges h. 60 dif.Hurhi-c their shares
hnd therefore fraudulent, designed iur
ihcit own selfish uva. a. gain control of
The Memphis a Charleston hy the election
81 O. nuJfu ui directors by majority ui the
monty stockholders In pursuance II
Ih' conspiracy the parties named above
have iil.d in the chucCry court oi the
Eighth district OF the noreiWcstcm Al.
vision ui Alabama. falsely alleging. nmone
other things, that the Memphis a
Charleston railroad was being operated
by ihc East Tennessee, Niwinin 4
1corgia railroad company against th,
best Interest Of its stakeholder.
nnd for the sole use aud boncGt
oi ilsUll, that 10 proposes. nj the pl,rtiou